This is an extract of our Freehold document, which we sell as part of our GDL Land Law Notes collection written by the top tier of Cambridge/Bpp/College Of Law students.
The following is a more accessble plain text extract of the PDF sample above, taken from our GDL Land Law Notes. Due to the challenges of extracting text from PDFs, it will have odd formatting:
FREEHOLD ESTATES Freehold - Fee Simple Absolute in Possession 3 stages to buying freehold: 1) Exchange of Contracts 2) Completion by Deed: conveyance in unregistered land and transfer in registered land 3) Registration
Contracts made before 26 Sept 1989 - governed by s40 LPA 1925No formal requirements for validity - possible to have valid oral contractsBut one of the following conditions must be met for the contract to be enforceable: 1) The contract is in writing and signed by party against whom contract is being enforced; or 2) There is an existing written record of an oral contract (memorandum or note) signed by the party against whom the contract is being enforced: Davies v Sweet; or 3) The contract is oral but the person seeking to enforce has done some act of 'part performance' demonstrating existence of contract - e.g. buyer taking possession of land with the consent of the seller (Bowers v Cator) and making improvements on the land (Broughton v Snook)
Contracts made on or after 26 Sept 1989- governed by s2 Law of Property (Miscellaneous Provisions) Act (LP(MP)A) 1989 1) Must be written 2) Contain all the terms 3) Signed by both parties
S2(3): Either in one document signed by both parties, or in in two identical documents for exchange
S2(2): can incorporate the terms by reference to other documents 1
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